Income and salary tax

2009-11-01 1:27 am

Please calculate the income of the person.
Single person, live with parents (both over 60 years old), live with one brother, his mother is disabled. His salary tax paid is $5000.

Single person allowance = $108,000
brothers and sisters allowance = $30,000 for each person
parents and grandparents allowance = $30,000 for each person
additional parents and grandparents allowance (for those living together with the person) = $30,000 for each person
Disability allowance (per person) = $60,000

回答 (1)

用戶9112

2009-11-01 1:49 am

✔ 最佳答案

Total allowance = 108000(personal) + 30,000(one brother) + (30000 + 30000) (father) + (30000 + 30000 + 60000) (mother)
= $318000
For 2008/2009 onwards
Salary Tax for first $40,000 taxable income = 40000 * 2% = 800
Salary Tax for 2nd $40,000 taxable income = 40000 * 7% = 2800
Salary Tax for 3rd $40,000 taxable income = 40000 * 12% = 4800
Therefore the net taxable income is between 80,000 and 120000.
The tax amount that falls in the 3rd 40,000 = 5000 - 800 - 2800 = 1400
The taxable incomes that fall in the 3rd 40,000 = 1400/12% = 11,667
Total taxable income = 40000 + 40000 + 11667 = 91667
Tota income = 91667 + 318000 = $409,667

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